Argenx (NASDAQ:ARGX) is set to implement a leadership change in May, a development that UBS Global Research believes should ensure a smooth continuation of the company’s strategy and operations.
Founder and current chief executive Tim Van Hauwermeiren will step aside from the CEO role and assume the position of chairman of the board. Chief Operating Officer Karen Massey is expected to succeed him as CEO from May 6, pending shareholder approval. UBS said Van Hauwermeiren explained to analysts that the decision was taken over the Christmas period.
According to UBS, Massey has already played a central role in shaping decisions across Argenx’s existing portfolio and intends to maintain the group’s current “Vision 2030” strategy, which targets delivering Argenx’s therapies to 50,000 patients by the end of the decade.
The bank added that Argenx does not intend to appoint a replacement COO. Instead, management highlighted the recent recruitment of Sandrine Piret-Gerard, who is expected to step into the role of chief commercial officer.
UBS also noted that Argenx plans to share further details on its next wave of indications at an upcoming sell-side healthcare conference. At this stage, the company indicated there is no urgency to provide formal revenue guidance.
Based on UBS estimates, Argenx generated revenues of about US$2.25 billion in 2024 and is projected to reach US$4.19 billion in 2025. The company returned to profitability in 2024, posting net earnings of US$833 million after losses in 2022 and 2023, and ended the year with a net cash position of US$1.461 billion.